SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (date of earliest event reported)
DECEMBER 11, 2002
Halliburton Company
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number Identification
of incorporation Number
Delaware 1-3492 No. 75-2677995
4100 Clinton Drive
Houston, Texas 77020-6299
(Address of principal executive offices)
Registrant's telephone number,
including area code - 713-676-3011
INFORMATION TO BE INCLUDED IN REPORT
Item 9. Regulation FD Disclosure
On December 11, 2002 registrant issued a press release entitled
"Halliburton Close to Agreement in Principle on Asbestos Claims - Company says
deal is not complete yet."
The text of the press release is as follows:
Halliburton Close to Agreement in Principle on Asbestos Claims
Company says deal is not complete yet
Houston, Texas (December 11, 2002) - Halliburton (NYSE: HAL) today said it is
close to an agreement in principle with plaintiffs' attorneys representing more
than 300,000 claimants that will resolve all of the asbestos-related personal
injury claims against the company.
Company officials stated that the transaction is not complete yet and if it is
achieved it would still be subject to financing, board approval, and court
approval, none of which can be assured. However, the company outlined tentative
terms including saying it would involve as much as $2.8 billion in cash payments
and up to 60 million shares of Halliburton common stock.
Under the proposed agreement, the settlement would not include a bankruptcy
filing of Halliburton and the company expects to retain 100% ownership of all of
its subsidiaries. The proposed agreement would cover all present and future
personal injury asbestos claims. Halliburton would retain the rights to the
first $2.3 billion of insurance proceeds and any amounts in excess of $3.0
billion; although there is no assurance the company would collect that amount.
"If this is completed," said Dave Lesar, chairman, president and CEO of the
company, "it's important to note that it would be business-as-usual for
customers, employees, vendors and financial creditors."
Halliburton further stated that it will not provide further updates on the
negotiations until a transaction is more likely.
"We are working hard to achieve an agreement that protects the shareholders and
is fair to those who have been affected by asbestos," said Lesar.
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Halliburton, founded in 1919, is one of the world's largest providers of
products and services to the petroleum and energy industries. The company serves
its customers with a broad range of products and services through its Energy
Services Group and Engineering and Construction Group business segments. The
company's World Wide Web site can be accessed at www.halliburton.com.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HALLIBURTON COMPANY
Date: December 12, 2002 By:/s/ Margaret E. Carriere
---------------------------------
Margaret E. Carriere
Vice President and Secretary
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